Clarkson Share Discussion Threads

[wilmot] 21/4/2007 17:40

The weekend FT carried the article above today. Nothing of note - just repeated the facts in the RNS without given any new info or giving an opinion. IMO the RNS is pretty poor. No real details. Hopefully we will get some more details over the next couple of weeks.

[idioterna] 21/4/2007 10:08

Anybody got a subscription to the FT for the rest of this article..

Clarkson falls on Russian lawsuits
By Robert Wright,Transport Correspondent

Published: April 21 2007 03:00 | Last updated: April 21 2007 03:00

Shares in London-based Clarkson, the world's biggest shipbroker, fell more than 11 per cent yesterday after it confirmed it was facing a multimillion-dollar legal action from a state-owned Russian shipowner and wasfacing previously unexpected legal action from another.

The new action also prompted the resignation of Martin Watson, a non-executive director of Clarkson and a partner in a legal firm involved in the action.

The rest of this article is for FT.com subscribers only

[sambessey] 20/4/2007 18:28

Nice 100p recovery... Went to the gym just after the big drop and was considering whether to top up now. Guess I could have made a packet if I'd done it before I went :(

[idioterna] 20/4/2007 16:47

What a week. :-(

[sambessey] 20/4/2007 16:24

Oh My God. Luckily this is my second smallest holding but still, what a kick in the teeth :/

[idioterna] 20/4/2007 16:19

I am more worried about the impact in the weekend press than anything else. Clarkson is very much a widows & orphans share - these folks read the Times & Torygraph and heed its advice.

[hawks11] 20/4/2007 16:16

Drat, just seen the news and drop in share price I wanted some cash and decided not to sell CKN early this week. I wanted to be a long term holder and suspect I will hang about as my holding is not my largest.There are plenty of big holders there so we will see what happens next week.
18.56% is a big drop in a day. An unpleasant "first" for CKN.

[rochdae] 20/4/2007 16:05

Indeed Ian, took a hit, too. Stop losses kicked in but still..

Now what can I buy with the freed up margin?

[nickcduk] 20/4/2007 16:05

im long and hopefully not wrong at 780p. the claims dont even cover the market cap lost today. a lot of russian legal claims tend to be very spurious so the merit of the claim isnt certain. Time will tell.

[idioterna] 20/4/2007 16:04

blimey - 750 would be a boon - being quoted 715 to sell now. Nobody beats the Russsian state in its own court - forget it. You might just as well write off 33m now, or decide to never do business with Russia again. I'll be suprised if the share price is over £6 by monday afternoon.

[d4vos] 20/4/2007 16:00

Hate to say i told u so but i kicked this subject off yesterday.....as usual the market overreacts......sad to say these are heading to 7.50 in the short term.......2007 will be a year of no returns worst case scenario then the company bounces back.......

[james111] 20/4/2007 16:00

thats what I was waiting for, just have to get timing right. maybe dip my toe in on monday. will be worth a go in the mid £7.
sorry to all who have been hit. its such a nice company with a good business.
regards James.

[idioterna] 20/4/2007 15:52

Oh well - win some, lose some.. Luckily I sold 1000 yesterday. Still left with rather too many to feel comfortable though.

[jswjsw] 20/4/2007 15:48

Had a limit order on this yesterday that wasn't filled. Thank heavens for that! Double litigation, possibly costing them up to one-third of EBITDA ....?? What price fair now? 600p???

[pec2004] 20/4/2007 15:41

Got to feel sorry for buyers this morning after reading IC.

[angora7] 20/4/2007 15:39

Oh no! (RNS re legal claims)

[rivaldo] 20/4/2007 14:59

To round the week off nicely, today the BDI is up another 68 to 5,850 - making 250 points in 3 days :o))

At this rate it'll be making new all-time highs in about 10 days' time.

[rivaldo] 20/4/2007 13:01

The IC have a Buy rec for CKN today - there's a large "Comment" column all about booming freight rates, the BDI etc. It concludes by saying that the stock "most exposed to the buoyant BDI" is Clarkson....

NB : it also talks about Goldenport about being good value FYI, though on a quick look I'm not so sure about them as CKN. For a start CKN is ISAble, which is nice!

[iandippie] 20/4/2007 11:41

Well, that's me in for a small top up. Should have got it a 945 yesterday, but I'm sure I won't be disappointed in the long run.

[rivaldo] 20/4/2007 11:18

Agreed Ian, and Lloyds have just disclosed they've increased by what must be around 430,000 shares to almost 7.9%!

Someone's following what's happening with shipping rates anyway...

[iandippie] 20/4/2007 09:30

Chart looks great. Next leg up has begun right on cue. And this time it could propel it through last summers high, and on toward 1300. :-). My only gripe is that I dithered topping up at 945 yesterday, and left it too late. I doubt I'll get a second chance.

[rivaldo] 20/4/2007 07:15

The BDI was up another 82 yesterday to 5,782....that's 181 points in 2 days.

Enough said :o))

[rivaldo] 19/4/2007 15:07

Idioterna, as has been stated here previously most of the ADIC damages were paid by the insurers, so this was irrelevant to CKN! Presumably the same applies re Sov - and if it didn't and was material, as I said there would have been a provision. There wasn't, so we can safely assume this is also irrelevant and /or immaterial.